A Beginner’s Intro to the MetaVerse

They say there are no limits to human imagination. And even if there were any, we are pretty sure technology has pushed them further. The Metaverse that everyone talks about is exactly that! Metaverse is built on the accumulated strength and accessibility of modern tech. It probably wouldn’t be a reality today otherwise. Things like affordable Charter internet prices, cloud computing, and of course, powerful computers make Metaverse what it is. But what is it? We’re glad you asked!

You’re not the only one who isn’t sure what the Metaverse is. And you’re certainly not the only one to look it up. But by the end of this blog, you’ll have a much better idea of what it is and how it works. Read on to discover more.

What Even Is the Metaverse?

Have you ever heard of The Matrix? The idea of a virtually-generated “hallucination” captured moviegoers all over the world. The film and its sequels eventually became a gamechanger in the science fiction genre, as well as the CGI industry. The film was about the entire world (or most of it) subjected to a virtual hallucination. They could move, eat, work, and even have relationships in the Matrix.

Of course, the metaverse is hardly an alien conspiracy to keep humans busy in virtual interactions while raising them as food. But the concept has striking similarities. In other words, the metaverse is a shared space where humans can engage and interact with each other. The space, like The Matrix, is not a physical one.

It is, instead, a purely virtual space. The only difference is people participate in the metaverse consensually. The case-sensitive Metaverse refers to the idea where there is a singular virtual universe. A place where all humans can engage in virtual interactions that more or less substitute the ones they have in the real world.

What Do NFTs Have to Do with the Metaverse?

So, with the Metaverse, you have a completely virtual world in parallel to the real one. You can enter it whenever you choose, meet your friends as avatars, watch movies with them, attend parties, and even browse the internet within it. But, if such a Metaverse exists, it must have some form of ownership. Especially for the users that invest in it. This is where blockchain enters the picture. Specifically, the NFT context.

NFTs or non-fungible tokens are crypto tokens using blockchain technology. Let’s have a similar technology integrates with the Metaverse. You, the holder of the NFT or similar token, will have legal ownership of the digital assets or property associated with it. NFTs are very decentralized, which means they are beyond the control of any existing central banks or governments.

In the real world with varying exchange rates and legislations, this could be a problem. But in the 100% virtual Metaverse, it could be one of the few workable ways to create a thriving virtual economy. And once that happens, you could very well be going to work as an avatar and earning crypto tokens. These will let you buy mansions, cars, and other assets…but virtually.

Does an All-Encompassing Metaverse Really Exist?

The idea of a virtual universe for every human in parallel with the physical one seems almost bizarre. But it is more than an idea if you look around. While the true Metaverse may not exist right now, individual and decentralized metaverses do. Upland and Decentraland are two very good examples of independent metaverses. In both these examples, you can enter the metaverse and purchase digital properties. Users on Decentraland can actually create avatars that walk around properties and purchase them. Some users even “flip” desirable properties for a profit after purchasing them.

This may not sound like much. But it proves that the concept of buying and selling virtual assets for a profit is indeed workable. And while the all-encompassing Metaverse may not exist right now, the materials to create one certainly do. Will it turn us into a sedentary species glued to our VR sets? What if our bodies begin to lose muscle and strength as we become dependent on the virtual world? Will our physical bodies become equivalent to a computer casing as we spend more and more time in the Metaverse? Only time will tell.

For now, all we can honestly say is that blockchain may have triggered a huge change. Perhaps even the most significant digital development since the internet itself. But it is still a very new “infant” tech. Whether it turns out to be good or bad for individuals and our species as a whole is anyone’s guess right now.